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Standard Bank, MTN Have Court Date in Supplier’s Patent Dispute

Standard Bank Group Ltd. and MTN Group Ltd. are scheduled to go to South Africa’s second-highest court on Aug. 1 to defend themselves in a technology supplier’s lawsuit over a credit-card security feature.

3MFuture Africa Ltd., a Seychelles-based company with offices in Cape Town, is seeking damages from the MTN Mobile Money Ltd. remote-banking joint venture for violating a patent on a system allowing consumers to switch credit cards on or off via mobile phone to prevent illicit use, the software developer said in an e-mailed statement.